Korean cosmetics company Clio acquires two Japanese cosmetics distributors
South Korean cosmetics retailer Clio acquired Japanese cosmetics distributor Doowon and cosmetics import agent Kiwami for US$6 million.
Clio intends to establish a Japanese subsidiary through these acquisitions, allowing it to increase sales and profitability in the medium to long term by streamlining its Japanese business structure.
The connection between Clio and Doowon dates back to 2013, when Doowon became the brand's supplier to bring Clio's makeup brand Peripera to the Japanese market.
Clio sells its key brand merchandise, such as Clio, Peripera and Goodal, at more than 15,000 locations in Japan, including drugstores and other retail locations.
Founded in South Korea in 1993, Clio now operates in the United States, Hong Kong China, Thailand and Vietnam.
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